Printer Friendly

CARAUSTAR INDUSTRIES, INC. RECORD 1992 RESULTS EXPECTED

 ATLANTA, Feb. 5 /PRNewswire/ -- Caraustar Industries, Inc. (NASDAQ: CSAR) announced today that it expects to post record sales, net income and earnings per share for the year 1992.
 Fourth quarter 1992 results, however, will be lower than expected, primarily because of substantial paper mill downtime during late November and December. In conjunction with normal maintenance downtime, Caraustar's paperboard mills scheduled additional shutdowns to accelerate completion of several capital projects which will increase the mills' production capacities. The company also experienced significant weakness in demand for its folding carton paperboard grades. Caraustar expects the combined effect of these factors will reduce fourth quarter after-tax earnings by about $2.8 million or $.12 per share. Final full year financial results will be released around March 1.
 Caraustar anticipates no mill shutdowns in the first quarter of 1993. Although the weakness in demand for folding carton grades has continued into the first quarter, the company has increased production of paperboard for the tube and core, and gypsum facing paper markets. Demand for gypsum facing paper continues to be strong and the company has announced a 3 percent price increase effective with shipments on or after March 15.
 On Feb. 3, Caraustar completed the acquisition of Ute Tube and Paper Co., a manufacturer of paper tubes and cores, located in Salt Lake City. The Salt Lake City location becomes Caraustar's westernmost tube and core converting facility, continuing the geographic expansion of the company's tube and core business. The new facility is expected to make positive contributions to sales and earnings in 1993. Ute Tube and Paper's 1992 sales were approximately $2.9 million.
 Caraustar Industries, Inc. is one of the largest and lowest-cost manufacturers of recycled paperboard and converted paperboard products in the United States.
 -0- 2/5/93
 /CONTACT: H. Lee Thrash III, chief financial officer of Caraustar Industries, 404-948-3101/
 (CSAR)


CO: Caraustar Industries, Inc.; Ute Tube and Paper Company ST: Georgia IN: PAP SU: ERP

RA-BN -- AT004 -- 3457 02/05/93 10:35 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 5, 1993
Words:332
Previous Article:SEATTLE FILMWORKS ANNOUNCES STOCK SPLIT
Next Article:FEDERAL REALTY INVESTMENT TRUST ACQUIRES PAN AM SHOPPING CENTER
Topics:


Related Articles
CARAUSTAR INDUSTRIES, INC. REPORTS RECORD 1992 RESULTS
/C O R R E C T I O N -- CARAUSTAR INDUSTRIES/
CARAUSTAR INDUSTRIES, INC. REPORTS SECOND QUARTER RESULTS; REVENUE UP BY 11.5 PERCENT AND NET INCOME FROM CONTINUING OPERATIONS INCREASES BY 24.8...
CARAUSTAR INDUSTRIES POSTS RECORD FIRST QUARTER REVENUES AND INCOME FROM OPERATIONS
CARAUSTAR INDUSTRIES, INC. REPORTS RECORD SECOND QUARTER AND SIX-MONTH RESULTS
CARAUSTAR INDUSTRIES, INC. REPORTS THIRD QUARTER AND NINE-MONTH RESULTS; RECORD NET SALES AND NET INCOME
CARAUSTAR INDUSTRIES, INC. REPORTS FIRST QUARTER 1995 RESULTS
CARAUSTAR INDUSTRIES, INC., REPORTS RECORD FIRST QUARTER 1996 SALES AND NET INCOME; DECLARES REGULAR SECOND QUARTER DIVIDEND
Caraustar Industries, Inc. Reports Record Quarterly Sales, Net Income and Earnings Per Share
Caraustar Industries, Inc. Reports First Quarter 1997 Sales and Net Income; Declares Regular Second Quarter Dividend

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters